Management Information Systems and Decision Support Systems - Essay Example

? Management Information Systems Management Information Systems Part I Interactive Session: Technology, “Augmented Reality: Reality Gets Better,” Question # 1 By definition, virtual reality is an interactive three dimensional computer generated environment that people have become plunged with, while augmented reality is a virtual reality that is majorly focused on the marketing effort of companies (Viega, 2010). Augmented reality is also considered as an exciting new science fiction that creates a richer, more interactive experience to its users and future customers unlike virtual reality. Additionally, the augmented reality tools are present, and are being used in the real world, while in virtual reality; users are deeply buried in the computer-generated environment. Moreover, virtual reality applies the use of head mounted display that accelerates immersion and eliminates any form of interference from the real world. Notably, augmented reality combine the use of real life images and the three major display techniques, unlike the virtual reality that displays graphic information on handheld display and physical objects (Viega, 2010). Question # 2 The augmented reality is more appealing to the marketers than virtual reality, since nearly everyone has already experienced it, and is appreciating its application. Moreover, it can be applied in numerous commercial fields including sports and games, image guided surgery in medical procedures, marketing among other industries sectors. Additionally, markers prefer AR technology since it can be manipulated to produce interesting images for interesting marketing especially the phone applications (Maclntosh, 2010). Question # 3 The augmented reality has found its applicability in the real estate marketing since it readily avails real estate information and listings using phone applications. Moreover, the incorporated phone applications are easy to use by the phone users e.g. in locating a real estate. Additionally, the AR technology has made it easy to use small photographs that can easily be incorporated in the phone applications showing the features of the real estate or the actual property. Other than the mentioned applications of AR technology, it can be used as maps incorporating routes within a section of the city, museum. Furthermore, it can be used in the hotel industry advertisement (Maclntosh, 2010). Reference Maclntosh R. S. (2010). “Portable Real Estate Listings with a Difference, “United States, NY: The New York Times. Viega A. (2010). “Augmented Reality For Real Estate Search,’ NY: Associated Press. Interactive Session: Management, “Piloting Valero with Real Time Management” Question # 1 The management team needs to address several issues before developing the Valero’s dashboard. Among the issues is how efficient the dashboard will assist in the management of the organization (Henderson, 2009). How many managers will the dashboards availed in their offices? Moreover, if the dashboard is to be availed to the public, will the company records remain save? Additionally, will the dashboard compromise quality of production? Question # 2 The availability of the dashboard in the remote areas of the organization makes it possible for any form of deterioration of quality in the refining process to be easily identified and corrective measure taken as soon as possible (Kahn, 2010). Moreover, the dashboard quickly reveals the occurrence of any production measures thus quick corrective measures taken unlike undertaking manual operation to the plant in determining where the problem might have emerged. Question # 3 Since the dashboards are to be separated, each dashboard will only need to display certain information. For quality performance, the refining dashboard will only be required to display certain information for quality performance. The refining dashboard shows the information including history of production and the current production data (Kahn, 2010). This would facilitate comparison thus quality assessment and consumption for each refining unit. Question # 4 The management-refining dashboard connects to every remote department therefore; all the information from these remote departments is revealed to the manager. From thisinformation, the management may track poor performance with the company. Moreover, with the shared data, the management or the managers are able to share best practice among themselves and make the necessary changes in equipment; thus, reducing energy consumption (Henderson, 2009). Notably, the organization should develop a dashboard for the environment since petroleum refineries usually pollutes the environment and a measure should be take that examines the degree of pollution; thus, relevant corrective measures initiated. Reference Henderson D. (2009). “Excess Want Focus on Coal, Not Just Metrics,” United States, NY: Information Weekly. Kahn, C. (2010). “Valero Energy Posts 3Q Profit, Reverses Loss, “Business Week, October 26, 2010; Valero Energy Corporation, From The 10K Annual Report For The Fiscal Year Ended December 31, 2009. Interactive Section: Organization, “The Flash Crash: Machine Gone Wild.” Question # 1 Before the flash crash, that is on May 6, 2010 the stock market of the United States were already down, and the trend was deteriorating even further. Other than the poor stock market, The United States concerns over the European debt, notably the prevailing and possibilities that Greece was defaulting, further affected the investors’ confident or increased the investors uncertainty about the stock market and the economy of that time (Harris, 2010). However, at 2:42 PM, just as flash, the equity market plunged so quickly and, an action that motivated investors. Question # 2 The electronic trading is advantageous in some ways despite its flash crash effects. The electronic trading leads to changes in the stock market to be felt almost all over the world within a short time (Bowley, 2010). That is, it leads to speedy transactions; thus, leading to reduced cost and liquidates the market. Moreover, due to its high frequency traders (HFTs), electronic trading is an efficient way of selling and buying. Question # 3 The features of electronic trading that might have led to flash crash include the automated algorithms that contribute to instant trade. Additionally, the computer programs like HFTs, which are capable of crunching large amount of data within a very short period. The electronic trading has effect across boarders; therefore, its effects are felt within a larger region or market within a short time due to microseconds processing ability of computers (Harris, 2010). Question # 4 The flash crash could have been prevented since the computer programs that influence the electronic trading methods are beyond human control or capability. Moreover, the computer algorithm that could have controlled flash crash is insufficient to handle the complexity of the electronic trading situation that facilitated the crash flash. Additionally, the spontaneous operation of the computer application gives to time for consultation or planning for the control of such computer occurrence; thus, there was no way flash crash could be controlled (Harris, 2010). References Bowley G. (2010). “Lone 44.1 Billion Sale Led To ‘Flash Crash’ In May,” United States, NY: The New York Times. Harris L. (2010). “How to Prevent another Trading Panic.” United States, NY: The Wall Street Journal. Part II Define a decision support system (DSS) A decision support system (DSS) is an overall term used in describing any computer application that is capable of enhancing the ability of the user to make a decision (Power, 2002). The term decision support system may specifically be used to describe a computer system design that helpsdecision making by applying the use of data, communication, and knowledge in identifying problems and working out solution (Power, 2002). What is the difference between management information systems and decision support systems? The management system information is software that allows the user or the network administrator to control how other information and data, programs among other applications are accessed (Lucey, 2004). Moreover, the system allows the administrator to security or welfare network information. The management system information allows daily creation of tasks, database population, and routine backup that can be automated and controlled to be run at a later preset time. On the other hand, decision support systems are specific computerized information system classification the supports organizational and business decision-making activities. A well-installed DSS facilitates interaction between the administrator and the software-based system; thus, enhancing compiling useful information from documents, raw data, personal knowledge, and business models in identifying and solving problems and making decision (Power, 2002). Describe the different components of a decision support system and explain each one. There are four major components of decision support system, and they include the user interface, the database, the modal and analytical tools, and the DSS network and architecture. A system component is a distinguishable portion of the larger entity. Notably, each component has its distinct role or function to the existence of the entire system. The user interface facilitates the interaction been the system and the user; thus, it may be referred to dialogue generation and management software (DGMS). The DSS components can as well be defined in terms of; 1. Inputs: include numbers, factors, and characteristics for analysis 2. User expertise and knowledge: these are the input that requires the user to analyze manually 3. Output: transforms data from the DSS’s decision or from where DSS generates the decision 4. Decision: these are the results generated by the Decision System Support based on the user criteria Think of an example, where a decision support system helps with making internal decisions. DSS applications may be find their uses in hospitals especially in disease diagnosis, desktop DSS spreadsheet, and Microsoft Excelapplications among others. References Power D. J. (2002).Decision Support Systems: Concepts and Resources for Managers. United States, Westport, Connecticut: Greenwood Publishing Group. Lucey T. (2004). Management Information Systems. UK: Cengage Learning EMEA Read More